Sidecar Health, the company that created health plans with robust healthcare coverage at up to 40% savings over traditional major medical plans, today announces its launch in North Carolina.
“With over 1.1 million people uninsured in North Carolina and healthcare costs continuing to rise, the existing solutions aren’t working for everyone. We’re bringing a totally new approach to the market,” said Patrick Quigley, Sidecar Health’s CEO. “We created an insurance product that provides good coverage to many of those who can’t afford existing options, and we’re excited to make that product available to North Carolinians.”
Consumers who enroll in a plan created by Sidecar Health can customize it to their needs, see any doctor they want without being constrained to a network, and have full transparency into their health costs so they have no surprise bills – all at a fraction of the price of a traditional major medical plan.
Sidecar Health enables this by providing its members with a payment card they use to pay for healthcare services when they get them, thereby allowing them to take advantage of discounts for paying upfront. Because the policies offer robust coverage at fixed, published amounts, members know how much will be paid by their plan for any health service. Through the Sidecar Health app members can see how much healthcare providers in their area charge for services, so they can shop around and make the most of their coverage.
Sidecar Health’s innovative approach to healthcare earned it $18 million of funding, led by San Francisco-based venture capital firm GreatPoint Ventures and Los Angeles-based firm Morpheus Ventures. Sidecar Health issues insurance plans that are underwritten and backed by global insurers who have ratings of A (Excellent) by AM Best Company.-Business Wire